Traders continue to show bullish sentiment towards Bitcoin despite its lackluster performance this month. The most popular options play has been buying the $110,000 call expiring on March 28, with traders paying a net premium of over $6 million for the bullish exposure. Bitcoin has been trading within a narrow range of $95,000 to $100,000, and while there have been some positive developments such as MicroStrategy's continued accumulation and Abu Dhabi's investment in bitcoin ETFs, macroeconomic headwinds and the volatility of memecoins and small-cap tokens are limiting the upside potential. The recent controversy surrounding the token LIBRA also contributed to a standstill in the market.



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